India beats major ecos in energy demand growth
NEW DELHI: India’s energy consumption grew at 7.1% in 2014-15, the highest rate of increase among major economies, whileenergy production rose by 4% to record the fastest pace in five years, according to BP Plc’s Statistical Review of World Energy said on Wednesday.
In contrast, China’s growth in consumption slowed to its lowest level since 1998 as its economy swung away from energy-intensive sectors. Yet, it remained the world’s largest growth market for energy.
The growth rate in India’s energy consumption and production stood second only to Algeria, which notched up an 8.4% expansion. This stands out in the backdrop of world primary energy consumption slowing markedly at 0.9% in 2014, a lower rate than at any time since late 1990s